Analysts Set Analog Devices, Inc. (NASDAQ:ADI) Target Price at $249.80

Analog Devices, Inc. (NASDAQ:ADI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the twenty-two analysts that are currently covering the firm, Marketbeat reports. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $249.80.

ADI has been the subject of several analyst reports. Cantor Fitzgerald reiterated a "neutral" rating and issued a $250.00 target price on shares of Analog Devices in a report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Analog Devices from $260.00 to $280.00 and gave the stock an "overweight" rating in a research report on Thursday, August 22nd. Oppenheimer restated an "outperform" rating and issued a $245.00 price objective on shares of Analog Devices in a research note on Thursday, August 22nd. Truist Financial cut Analog Devices from a "buy" rating to a "hold" rating and lowered their target price for the stock from $266.00 to $233.00 in a research note on Monday, September 23rd. Finally, Needham & Company LLC restated a "hold" rating on shares of Analog Devices in a research report on Thursday, August 22nd.

Analog Devices Trading Up 0.4 %

Shares of NASDAQ:ADI traded up $0.78 during midday trading on Tuesday, reaching $210.43. The company's stock had a trading volume of 2,884,310 shares, compared to its average volume of 3,219,607. The firm has a 50 day moving average price of $225.70 and a two-hundred day moving average price of $225.44. Analog Devices has a fifty-two week low of $179.44 and a fifty-two week high of $244.14. The firm has a market capitalization of $104.48 billion, a price-to-earnings ratio of 62.65, a PEG ratio of 2.89 and a beta of 1.08. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.24 and a current ratio of 1.69.

Analog Devices (NASDAQ:ADI - Get Free Report) last posted its quarterly earnings results on Wednesday, August 21st. The semiconductor company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.08. The firm had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.27 billion. Analog Devices had a net margin of 17.07% and a return on equity of 9.47%. The business's revenue was down 24.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.49 earnings per share. As a group, analysts forecast that Analog Devices will post 6.34 earnings per share for the current year.

Analog Devices Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $3.68 dividend on an annualized basis and a yield of 1.75%. Analog Devices's dividend payout ratio (DPR) is currently 110.51%.

Insider Transactions at Analog Devices

In other news, CEO Vincent Roche sold 10,000 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $223.87, for a total transaction of $2,238,700.00. Following the transaction, the chief executive officer now directly owns 21,983 shares of the company's stock, valued at $4,921,334.21. This represents a 31.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Edward H. Frank sold 995 shares of the stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $234.31, for a total value of $233,138.45. Following the sale, the director now directly owns 3,753 shares in the company, valued at $879,365.43. This trade represents a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,495 shares of company stock valued at $25,229,958 in the last ninety days. 0.31% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swedbank AB bought a new position in Analog Devices in the 1st quarter worth $537,171,000. Canada Pension Plan Investment Board raised its position in shares of Analog Devices by 17,535,360.0% during the first quarter. Canada Pension Plan Investment Board now owns 1,753,546 shares of the semiconductor company's stock valued at $346,834,000 after buying an additional 1,753,536 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of Analog Devices by 153.6% in the third quarter. Raymond James & Associates now owns 2,348,104 shares of the semiconductor company's stock worth $540,463,000 after buying an additional 1,422,054 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Analog Devices by 19.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 8,163,882 shares of the semiconductor company's stock valued at $1,614,735,000 after acquiring an additional 1,330,242 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Analog Devices by 23,792.4% in the 3rd quarter. International Assets Investment Management LLC now owns 887,603 shares of the semiconductor company's stock valued at $2,043,000,000 after acquiring an additional 883,888 shares during the last quarter. 86.81% of the stock is owned by hedge funds and other institutional investors.

About Analog Devices

Analog Devices, Inc designs, manufactures, tests, and markets integrated circuits (ICs), software, and subsystems products in the United States, rest of North and South America, Europe, Japan, China, and rest of Asia. The company provides data converter products, which translate real-world analog signals into digital data, as well as translates digital data into analog signals; power management and reference products for power conversion, driver monitoring, sequencing, and energy management applications in the automotive, communications, industrial, and consumer markets; and power ICs that include performance, integration, and software design simulation tools for accurate power supply designs.